Gaz Métro and Fluxys have entered into a collaboration agreement to pool their expertise and stimulate the liquefied natural gas and compressed natural gas markets for industry and the transportation sector.
The agreement will pave the way for an exchange of information and expertise related to LNG and CNG, particularly on the technical, commercial, contractual, regulatory, fiscal and administrative fronts. The two companies, which indirectly share a major shareholder in the Caisse de dépôt et placement du Québec, have also agreed to explore co-investment opportunities as interesting projects take shape.
Faced with environmental challenges, Québec and the European Union, have set ambitious goals for cutting greenhouse gas emissions. Natural gas provides concrete solutions to those challenges. Choosing natural gas rather than petroleum products as a fuel source has direct benefits for air quality and health: CO2 and nitrogen oxide emissions are much lower, while quantities of sulphur and fine particulates, particularly harmful to human health, are negligible.
In light of these many advantages, natural gas and the associated infrastructure will continue to play a central role in the sustainable energy mix of the future; it is with that in mind this agreement has been entered into, the companies said in a statement.
Jacques Daoust, Québec Minister of the Economy, Innovation and Exports , said, “Our government recently took an equity stake in Gaz Métro LNG, with a view to making a large quantity of liquefied natural gas available to Québec businesses by 2016. With today’s announcement, Québec is positioning itself as a destination of choice for investors seeking to capitalize on the development opportunities provided by the Plan Nord and Maritime Strategy.”
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Press Release